News from the New York State and Local Retirement System

Tag Archives: Special Plans

The Police and Fire Retirement System (PFRS) covers more than 35,000 police officers and firefighters across New York State.

As a PFRS member, you’ll pass a series of important milestones throughout your career. Knowing and understanding these milestones will help you better plan for your financial future.

Some milestones are common to most Police and Fire members; others are shared by members in a particular tier. For example, Tier 2 and 3 members must have five years of service credit to be vested (eligible for a pension benefit), while Tier 5 and 6 members need 10 years.

This graph shows common PFRS milestones:

Most PFRS members are in special plans that allow them to retire with full benefits, regardless of age, after 20 or 25 years of service. Your specific milestones, along with your pension calculation, are determined by your retirement plan, so it is important for you to familiarize yourself with the details of your own plan. You can find plan information on our Publications page. Not sure which one is yours? Your retirement plan is listed on your Member Annual Statement, which is provided to you each summer, or you can ask your employer.

NYSLRS manages more than 300 retirement plans for its members. You can group them into two main types: regular plans and special plans. Under a regular plan, you need to reach certain age and service requirements to receive a pension. For instance, if you’re a Tier 4 member in the Employees’ Retirement System (ERS), you’re eligible for a benefit when you’re 55 with five or more years of service credit. Most of our ERS members are in regular plans.

Special plans are a little different. Under a special plan, you can retire at any age if you have the full amount of service credit required. In NYSLRS, special plan members can receive a pension after completing 20 or 25 years of service. Special plans exist in both ERS and the Police and Fire Retirement System (PFRS).

Special Plans for Special Services to the State

As of March 31, 2015, there are 38,687 active ERS members and 30,754 active PFRS members in special plans. These members are part of the uniformed services. They fill titles such as:

Police officers

Firefighters

Correction officers

Sheriffs, undersheriffs, and deputy sheriffs

Security hospital treatment assistants

Public employees like ones listed above and in other similar titles face dangers and difficulties throughout their careers. They serve unique roles in the State, from fighting fires to patrolling our neighborhoods to assisting ill patients and more. We’d like to take this opportunity to thank this 13 percent of our active membership for the challenging, sometimes life-threatening work they do each day. You render special service to New York and its people, and we are grateful.

If you’d like to learn more about your retirement plan, please review your plan publication on our website.